Rare Earth Metals Leaching Chemicals Market worth $749 million by 2027 | Key players BASF SE (Germany), OxyChem (US), Olin Corporation (US), Aurubis (Germany), Solvay S. A. (Belgium).

According to recent market research the "Rare Earth Metals Leaching Chemicals Market by Type (Hydrochloric Acid, Sulfuric Acid, Nitric Acid, Ammonium Sulfate, Citric Acid), and Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) - Global Forecast to 2027", size is expected to grow from USD 517 million in 2022 to USD 749 million by 2027 at a compound annual growth rate (CAGR) of 7.7% during the forecast period. The main factor driving the rare earth metals leaching chemicals market during the forecast period includes the rising demand towards electric vehicles, discovery of new rare earth deposits, and increasing incentives and regulations by government. Also, an increase in interests related to energy efficient options and related technology across the globe is providing momentum to the growth of the market.

Browse 142 market data Tables and 52 Figures spread through 206 Pages and in-depth TOC on "Rare Earth Metals Leaching Chemicals Market - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/rare-earth-metals-leaching-chemicals-market-145292199.html

The extraction of rare earth metals from secondary sources, often known as recycling, involves the extraction of these metals from waste items such as discarded consumer electronics, automobile catalysts, and industrial waste. This technique can be more cost-effective and environmentally friendly than mining for new rare earth metals. Recovery of rare earth metals from secondary sources has the potential to reduce reliance on China for rare earth metals. A drop in demand for new rare earth metals mined in China can have a significant impact on reducing reliance on China. For instance, recycling neodymium and dysprosium from discarded wind turbine magnets can help lessen dependency on China.

Strong base or oxidizing agents are required to assist convert rare earth elements into their oxide forms, which are soluble in strong acid solutions, to reduce the consumption of resources and ease the process. As a result, green solvents or lonic solvents, such as ionic liquids (ILs) and deep-eutectic solvents (DESS), methanesulphonic acid (MSA), and inobic liquid [Hbet] [Tf2N], are utilised to improve mineral separation and metal recovery. These systems are employed in leaching and extraction procedures as reactive agents. Green solvents are generally non-flammable and non-volatile, eliminating the risk of hydrometallurgy. The replacement of green solvents for hazardous solvents minimizes the risk of toxicity and flammability. This certainly has an impact on worker safety and environmental concerns, which are the primary obstacles for metallurgical processes. Therefore, green solvents are used in the leaching process, which is considered a sustainable way of reducing the consumption of energy and toxic waste regenerated in the leaching process of rare earth metals.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=145292199

Asia Pacific (APAC) is the leading region in terms of total rare earth metals leaching chemicals consumption, owing to rapidly expanding demand for rare earth metals in China from end-use industries such as automotive and electronics. Due to China's increasing manufacturing and extraction activities, the region is also predicted to see the fastest growth in terms of consumption. The growth of existing manufacturing capacity in Australia, Malaysia, China, and India will increase regional demand for rare earth metals leaching chemicals across the region.

The major key players in the rare earth metals leaching chemicals market are BASF SE (Germany), OxyChem (US), Olin Corporation (US), Aurubis (Germany), Solvay S. A. (Belgium), UBE Corporation (Japan), LANXESS AG (Germany), Westlake Chemical Partners (US), Gujarat Alkalies and Chemical Limited (GACL) (India), Gujarat State Fertilizers & Chemicals Limited (GSFC) (India).

Request Sample Pages @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=145292199

BASF is a global chemical company operating in more than 80 countries through six distinct divisions. The Chemicals division focuses on petrochemicals and intermediates, while the Materials division specializes in isocyanates, polyamides, and materials for the plastics industry. Industrial Solutions produces and supplies industrial components and additives, including polymer dispersions and pigments. The Surface Technologies division offers solutions for various surfaces, including catalysts and coatings. Nutrition & Care develops ingredients for consumer applications, covering nutrition, home, and personal care. Agricultural Solutions provides products like fungicides, herbicides, and seeds. The Other division encompasses commodity trading, engineering, and additional services.

Occidental Chemical Corporation (OxyChem), a subsidiary of Occidental Petroleum Corporation, manufactures PVC resins, caustic soda, chlorine, and a range of chemical products, including potassium hydroxide, vinyl chloride monomer, calcium chloride, sodium hydroxide, and more. These products find applications in polymer production, pharmaceuticals, and water treatment. OxyChem also supplies catalysts and offers value-added supply chain services. The company operates in the Americas, Europe, and Asia. Due to its affiliation with Occidental Petroleum Corporation, OxyChem is not required to disclose its financial performance.

Make an Enquiry @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=145292199

Contact:

Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/rare-earth-metals-leaching-chemicals.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/rare-earth-metals-leaching-chemicals-market.asp

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.